Genetic Design and Manufacturing, a Singapore-based genetic therapy manufacturer, reeled in $21 million in series A funding that will be used to advance its technology and processes.
Founded in 2021, the company recently began construction on a 155,000-square-foot pre-clinical, clinical and commercial manufacturing facility to support cell, gene and nucleic acid therapies, the company said in a January 24 press release. The facility is expected to begin operating later this year, with the project forecast to be fully completed by 2027.
The financing round was led by Celadon Partners and included WI Harper Group, and SEEDS Capital, the investment arm of government agency Enterprise Singapore. NSG Ventures also participated in the fundraising.
“The process of manufacturing a genetic medicine is extremely intricate and demands a specialized and highly knowledgeable team to successfully bring it to fruition,” Michael Koeris, CEO and co-founder of the company, said in the release. “With our recent funding, we aspire to cultivate stronger collaborations with more partners in the U.S. and APAC region, working hand in hand to improve the state of healthcare and treatment for patients.”
Singapore has been focused on developing itself as a hub for advanced biologic development. Last week, AbbVie broke ground on a $223 million expansion of its Singapore manufacturing facility where it produces small molecules and biologics.
That announcement came a little more than a year after GSK, Sanofi and Takeda formed a production partnership with the Biologics Pharma Innovation Programme Singapore. Prior to that deal, GSK opened up a $33 million plant in Jurong, Singapore, focused on producing key ingredients for cancer treatments.